Everton won the match after a 87th minute goal by Louis Saha, his first goal for the club.
Hodgson said: “It’s always tough to lose in the last five minutes and we missed two very good chances through Zoltan Gera and Bobby Zamora – it would have made a big difference if we’d taken those chances.
“It was a cruel fate. We had players around the ball and could have got closer to the cross I thought, but it was good movement in the box from Saha.
“When your team do well you should be congratulated on getting something from the game – even if it’s only a draw – but to go away with another odd-goal defeat is a bitter pill to swallow.”